Mortgage Selector

Our Mortgage Selector calculator uses your financial information, mortgage priorities and risk profile to determine what size mortgage and how much home you can afford as well as the mortgage program that is right for you. The Mortgage Selector also addresses your down payment and total monthly housing expense -- the all-in cost of owning a home. Review the outputs to find related resources on FREEandCLEAR to help you select the mortgage that is right for you

Inputs

Mortgage Type

Select Mortgage Type PurchaseRefinance

The type of mortgage your looking to obtain

 

Please Select Mortgage Type

What Size Mortgage Can I Afford? Your monthly net income after deductions, also known as take-home pay. Debt is the total of all monthly payments for non-housing related debt such as credit card and auto loans

Monthly Net Income ($)

Monthly Debt Payments($)

 

Please enter monthly income

Please enter monthly debt payments

What Size Down Payment? Choose Loan-to-Value (LTV) Ratio (select one)

Percentage of
Purchase Price (%) The amount of money, as a percentage of the purchase price or as a dollar amount, you are contributing to purchasing the property

OR

Amount Saved for
Down Payment ($)

LTV Ratio (Refinance) The amount of money, as a percentage of the purchase price or as a dollar amount, you are contributing to purchasing the property

Select 50.0 % 50.5 % 51.0 % 51.5 % 52.0 % 52.5 % 53.0 % 53.5 % 54.0 % 54.5 % 55.0 % 55.5 % 56.0 % 56.5 % 57.0 % 57.5 % 58.0 % 58.5 % 59.0 % 59.5 % 60.0 % 60.5 % 61.0 % 61.5 % 62.0 % 62.5 % 63.0 % 63.5 % 64.0 % 64.5 % 65.0 % 65.5 % 66.0 % 66.5 % 67.0 % 67.5 % 68.0 % 68.5 % 69.0 % 69.5 % 70.0 % 70.5 % 71.0 % 71.5 % 72.0 % 72.5 % 73.0 % 73.5 % 74.0 % 74.5 % 75.0 % 75.5 % 80.0 % 80.5 % 81.0 % 81.5 % 82.0 % 82.5 % 83.0 % 83.5 % 84.0 % 84.5 % 85.0 % 85.5 % 86.0 % 86.5 % 87.0 % 87.5 % 88.0 % 88.5 % 89.0 % 89.5 % 90.0 % 90.5 % 90.0 % 91.5 % 92.0 % 92.5 % 93.0 % 93.5 % 94.0 % 94.5 % 95.0 % 95.5 % 96.0 % 96.5 % 97.0 % 97.5 % 98.0 % 98.5 % 99.0 % 99.5 % 100 %

 

Please select or enter down payment

Please select LTV Ratio

Borrower Priortities / Risk Profile (select one)

Lowest Risk

Payment Never
Changes

Moderate Risk

Lower Monthly Payment Payment Can Increase

Highest Risk

Lowest Monthly Payment Highest Mortgage Amount Payment Can Increase the Most

Select the risk profile that applies to you

 

Please select borrower priorities / Risk Profile

Borrower Profiles (select all that apply)

First-Time Home Buyer

Active or Retired Military

Select the borrower profiles that apply to you

 

Please select borrower profile

Borrower Info

Credit Score

Select Credit Score Excellent (740-850)Very Good (720-739)Good (700-719)Above Average (680-699)Average (660-679)Fair (640-659)Need Improvement (620-639)Poor (350-620) Your credit score to the best of your knowledge

 

 

 

Please Enter Your First & Last Name

Please Enter a Valid First Name

Please Enter a Valid Last Name

Please Enter Your Phone Number

Please Enter a Valid Phone

Please Enter Your Email

Please Enter a Valid Email

Please Select Credit Score

 

 

Outputs

1

Estimated Mortgage Amount for Which You Qualify ($)

 

2

What is My Down Payment / Loan-to-Value Ratio?

 

3

How Much Home Can I Afford?

 

4

What Mortgage Program is Right for Me?

 

5

How Much is My Mortgage Payment?

 

6

How Much is My Total Monthly Housing Expense?

 

7

What is My Interest Rate?

 

Thank you for submitting your calculation. We have also provided your contact info to up to four lenders so that you can find the mortgage that is right for you. Continue to use the calculator and perform as many calculations as you like as your contact info is only submitted once.

Key Mortgage Selection Tips

More FREEandCLEAR Mortgage Resources